Standard Life Wealth has named John Hair as chief investment
officer, a promotion from his former role as head of
investments at the U.K. outsourced-CIO business.
Julie-Ann Ashcroft, the firms senior portfolio
manager, has been promoted to fill Hairs previous
position alongside Darren Ripton, according to a statement Thursday from the firm. Both
Hair and Ashcroft joined Standard Life Wealth in 2013 when it
acquired London-based Newton Investment Managements
private client business.
Standard Life Wealth, which manages about
£6.7 billion ($8.7 billion) in discretionary assets for
private clients, charities, trust companies, and pension funds,
has been seeking to expand since it was created in 2008. The
firm said in October that it hired Shona Sklaroffs as
head of business management and strategy, and in
April 2016 it added Gair Brisbane as a senior client portfolio manager.
As CIO, Hair will be responsible for the performance of Standard Life Wealths assets, while
continuing to manage money for charities, private clients,
trusts and pensions, according to the firms statement
Thursday. A spokesperson said the CIO position was newly
created for him.
The OCIO firms parent company, Edinburgh-based insurer
Standard Life, announced in March plans to merge with Abderdeen Asset Management to
create a £581 billion firm.